Chapter VI

IMPLEMENTATION PROVISIONS

Article 64.- Implementation effect

1. This Decree takes effect 15 days after its publication in "CONG BAO."

2. The Government's Decree No. 13/1999/ND-CP of March 17,1999, on organization and operation of foreign credit institutions and their representative offices in Vietnam and Decree No. 189/HDBT of June 15, 1991, of the Ministers' Council (now the Government) promulgating the Regulation on foreign bank branches and joint-venture banks operating in Vietnam and previous regulations which are contrary to this Decree shall cease to be effective.

Article 65.-Adjustment of organization and operation

Within 01 year as from the effective date of this Decree, foreign bank branches, joint-venture banks, banks with 100% foreign capital and representative offices of foreign credit institutions shall adjust their organization and operation in accordance with this Decree and regulations of the State Bank.

Article 66.- Handling of violations

If committing acts of violation of this Decree, foreign bank branches, joint-venture banks, banks with 100% foreign capital and representative offices of foreign credit institutions in Vietnam shall, depending on the nature and severity of their violations, be handled according to the provisions of Vietnamese law.

Article 67.- Implementation guidance

1. The Governor of the State Bank shall have to guide the implementation of this Decree.

2. Ministers, heads of ministerial-level agencies, heads of Government-attached agencies, and presidents of provincial/municipal People's Committees shall have to implement this Decree.